Dormant Bitcoin Wallets Transfer 80,000 BTC in Major Move

Ki Young Ju, CEO of CryptoQuant, highlights a 14-year dormant 80,000 BTC transfer, linked to a 2011 hack of MyBitcoin, reportedly sold via Galaxy Digital.

The incident emphasizes potential lapses in compliance by financial entities like Galaxy Digital, despite no immediate Bitcoin price volatility or regulatory scrutiny observed.

Bitcoin Price Stable Amid Historical Asset Resurgence

Bitcoin (BTC) is currently valued at $118,215.55, with a market capital of 2.35 trillion and maintaining dominance at 60.53%, reported by CoinMarketCap. Despite a 39.95% decrease in 24-hour trading volume, Bitcoin has experienced a 2.25% increase over the last 24 hours, bringing a sense of stability.

Coincu research team reveals that this event could spark renewed regulatory scrutiny over historical transactions. Despite the lack of regulatory action presently, the history of such asset transfers suggests potential inquiries might follow. CryptoQuant’s disclosure underlines the significance of blockchain analytics in identifying dormant coins’ origins, improving transparency across the sector.

Bitcoin Price Stable Amid Historical Asset Resurgence

Did you know?
Despite the reactivation of these Satoshi-era coins, similar to the 2011 MyBitcoin hack event, the market witnessed minimal price disruption, reflecting the community’s evolved stability mechanisms.

Bitcoin (BTC) is currently valued at $118,215.55, with a market capital of 2.35 trillion and maintaining dominance at 60.53%, reported by CoinMarketCap.

Coincu research team reveals that this event could spark renewed regulatory scrutiny over historical transactions.